Financial Management Network Inc. Sells 62 Shares of Eli Lilly and Company $LLY

Financial Management Network Inc. lessened its stake in Eli Lilly and Company (NYSE:LLY) by 3.9% during the second quarter, HoldingsChannel reports. The firm owned 1,522 shares of the company’s stock after selling 62 shares during the period. Financial Management Network Inc.’s holdings in Eli Lilly and Company were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. PNC Financial Services Group Inc. raised its holdings in Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after acquiring an additional 50,002,551 shares during the period. GAMMA Investing LLC raised its holdings in Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Nuveen LLC bought a new stake in Eli Lilly and Company during the 1st quarter valued at $4,613,912,000. Vanguard Group Inc. raised its holdings in Eli Lilly and Company by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock valued at $65,432,218,000 after acquiring an additional 4,975,395 shares during the period. Finally, Cohen Investment Advisors LLC raised its holdings in Eli Lilly and Company by 7,975.5% during the 1st quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company’s stock valued at $647,225,000 after acquiring an additional 773,947 shares during the period. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LLY shares. Daiwa Capital Markets cut shares of Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 target price on the stock. in a report on Sunday, August 17th. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. UBS Group reduced their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Leerink Partners restated a “market perform” rating and set a $715.00 price target on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Finally, Guggenheim reduced their price target on shares of Eli Lilly and Company from $942.00 to $875.00 and set a “buy” rating for the company in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $939.61.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $760.39 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $719.68 billion, a PE ratio of 49.70, a P/E/G ratio of 1.06 and a beta of 0.47. The firm has a fifty day simple moving average of $739.72 and a two-hundred day simple moving average of $774.13. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $939.86.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.72. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.8%. Eli Lilly and Company’s payout ratio is currently 39.22%.

Insiders Place Their Bets

In other news, Director Jamere Jackson acquired 200 shares of the stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the purchase, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. The trade was a 2.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David A. Ricks acquired 1,632 shares of the stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer owned 546,601 shares of the company’s stock, valued at approximately $352,431,926.77. The trade was a 0.30% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 4,514 shares of company stock valued at $2,894,841 over the last three months. 0.13% of the stock is currently owned by company insiders.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.